Sale of Virgin Active gym at The Island Quarter

Summary by AI BETAClose X

Conygar Investment Company PLC announced the unconditional exchange of contracts to sell the Virgin Active gym site at The Island Quarter, Nottingham, to Monoprop Limited for £6.75 million. Completion is expected within one month. The net proceeds will partially repay a £12 million loan. The transaction will result in a £750,000 loss based on the March 2025 valuation of £7.5 million. The Virgin Active gym holding company recorded a net loss of £67,000 for the year ended 30 September 2024. Conygar originally purchased the long leasehold interest for £5.90 million in May 2024.

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